Fujitsu 2005 Annual Report Download - page 48

46 Fujitsu Limited
U.S. Dollars
Yen (thousands)
(millions) (Note 3)
2003 2004 2005 2005
Cash flows from operating activities (A):
Income (loss) before income taxes and minority interests ¥(147,606) ¥ 157,018 ¥223,526 $ 2,089,028
Adjustments to reconcile income (loss) before
income taxes and minority interests to
net cash provided by operating activities:
Depreciation and amortization 325,618 261,805 220,492 2,060,673
Goodwill amortization 17,667 31,144 11,626 108,654
Accrual (payments) for retirement benefits 8,936 22,923 7,269 67,935
Provision for loss on repurchase of computers 26,063 33,329 21,746 203,234
Reversal of provision for loss on repurchase
of computers (35,191) (40,161) (33,494) (313,028)
Interest charges 29,913 23,331 18,247 170,533
Interest and dividend income (8,495) (6,668) (8,643) (80,776)
Equity in earnings of affiliates, net (570) 862 (3,691) (34,495)
Disposal of non-current assets 53,855 30,714 39,765 371,635
Gain on transfer of substitutional portion of
employees’ pension funds — (146,532) ——
Gain on sales of marketable securities (29,362) (134,624) (133,299) (1,245,785)
(Increase) decrease in receivables, trade 63,246 (101,803) (26,320) (245,981)
(Increase) decrease in inventories 39,538 42,637 37,965 354,813
(Increase) decrease in other current assets (33,062) 6,628 13,808 129,047
Increase (decrease) in payables, trade (60,500) 158,327 (47,859) (447,280)
Increase (decrease) in other current liabilities (60,800) 13,608 10,956 102,392
Other, net (16,249) 3,865 (35,757) (334,178)
Cash generated from operations 173,001 356,403 316,337 2,956,421
Interest paid (30,920) (24,142) (18,858) (176,243)
Interest received 6,422 2,763 4,638 43,346
Dividends received 8,282 6,358 4,694 43,869
Income taxes paid (38,988) (37,337) (29,579) (276,439)
Net cash provided by (used in) operating activities 117,797 304,045 277,232 2,590,954
Cash flows from investing activities (B):
Purchases of property, plant and equipment (163,503) (141,596) (151,862) (1,419,271)
Proceeds from sales of property,
plant and equipment 91,779 47,841 14,283 133,486
Purchases of intangible assets (66,524) (59,423) (47,677) (445,580)
Purchases of investment securities (34,279) (47,205) (23,239) (217,187)
Proceeds from sales of investment securities 98,303 269,110 161,047 1,505,112
Other, net 9,809 (1,338) 32,319 302,047
Net cash provided by (used in) investing activities (64,415) 67,389 (15,129) (141,393)
A+B (*) 53,382 371,434 262,103 2,449,561
Cash flows from financing activities:
Proceeds from long-term debt 358,615 57,150 126,179 1,179,243
Repayment of long-term debt (222,779) (197,876) (240,293) (2,245,729)
Increase (decrease) in short-term borrowings (105,167) (76,741) (48,816) (456,224)
Increase (decrease) in minority interests (2,702) 10,700 (1,024) (9,570)
Dividends paid (5,005) — (12,001) (112,159)
Other, net (90,199) (33,135) (36,079) (337,187)
Net cash provided by (used in) financing activities (67,237) (239,902) (212,034) (1,981,626)
Effect of exchange rate changes on cash and
cash equivalents (3,230) (3,199) 1,661 15,523
Net increase (decrease) in cash and cash equivalents (17,085) 128,333 51,730 483,458
Cash and cash equivalents at beginning of year 299,418 282,333 413,826 3,867,533
Cash and cash equivalents of newly
consolidated subsidiaries —3,160 947 8,850
Cash and cash equivalents of deconsolidated subsidiaries ——(11,987) (112,028)
Cash and cash equivalents at end of year ¥ 282,333 ¥ 413,826 ¥454,516 $ 4,247,813
Noncash investing and financing activities:
Acquisition of assets under finance leases ¥ 32,696 ¥ 32,084 ¥33,273 $ 310,963
Increase in capital surplus as a result of
stock exchange — — 50,156 468,748
Contribution of assets to an affiliated company — 63,949 ——
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
(*) This is referred to as “free cash flow” in Management’s Discussion and Analysis of Operations.
Consolidated Statements of Cash Flows
Fujitsu Limited and Consolidated Subsidiaries
Years ended March 31